ON (NYSE:ONON) Earns “Outperform” Rating from Telsey Advisory Group

ON (NYSE:ONON)‘s stock had its “outperform” rating reissued by research analysts at Telsey Advisory Group in a research report issued on Tuesday, Benzinga reports. They presently have a $37.00 price objective on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 8.47% from the company’s previous close.

Other analysts have also issued reports about the stock. Truist Financial increased their target price on shares of ON from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price target on shares of ON in a report on Tuesday, March 5th. Redburn Atlantic reaffirmed a “neutral” rating and issued a $34.00 target price on shares of ON in a research report on Thursday, March 7th. Morgan Stanley boosted their price target on shares of ON from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday. Finally, TD Cowen lifted their price objective on ON from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, ON currently has a consensus rating of “Moderate Buy” and an average target price of $37.53.

ON Stock Performance

Shares of ONON stock traded up $0.07 on Tuesday, hitting $34.11. 1,194,457 shares of the company’s stock traded hands, compared to its average volume of 4,957,454. The company’s fifty day simple moving average is $33.26 and its 200 day simple moving average is $29.99. ON has a one year low of $23.41 and a one year high of $37.08. The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of 128.41, a P/E/G ratio of 1.16 and a beta of 2.17.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.18). ON had a net margin of 4.04% and a return on equity of 6.85%. The company had revenue of $504.69 million during the quarter, compared to the consensus estimate of $515.30 million. As a group, sell-side analysts anticipate that ON will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of ON

A number of hedge funds and other institutional investors have recently bought and sold shares of ONON. Allspring Global Investments Holdings LLC increased its holdings in ON by 4.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock worth $46,076,000 after acquiring an additional 76,746 shares in the last quarter. Liontrust Investment Partners LLP boosted its position in shares of ON by 204.7% in the third quarter. Liontrust Investment Partners LLP now owns 517,942 shares of the company’s stock worth $14,410,000 after purchasing an additional 347,942 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of ON by 127.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock worth $3,549,000 after purchasing an additional 73,839 shares in the last quarter. Jennison Associates LLC raised its position in shares of ON by 7.6% during the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock valued at $219,416,000 after purchasing an additional 554,513 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. lifted its stake in shares of ON by 10.3% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 292,338 shares of the company’s stock valued at $8,133,000 after buying an additional 27,206 shares in the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.